You've got a couple of choices. Check the map:
http://www.continental.com/web/en-US.../maps/ewr.aspx
((they're marked with a
P ....although I'm sure you're smart enough to work that out on your own

))
I prefer the upper level near the 70's gates..but just personal preference.
Drinks are free, which is nice. There is light breakfast in the am with muffins and english muffins (and free tasty bloody mary's that are made surprisingly well)
You'll have snacks (chips, apples, cheese) all complimentary as well.
Free wi-fi and some newspapers and magazines.
Overall, I very much enjoy haveing the PC option in EWR.
Security is variable raning from horrific to infuriating to sometimes not-so-bad depending on time of day and personalities. Since you're flying BF you can use the elite line and save some time getting through.